Zinka Logistics Solutions Limited, a digital platform for truck operators, has set the price range for its initial public offering (IPO) at ₹ 259 to ₹273 per share with a face value of ₹1 each. The IPO, which opens on November 13, will include a fresh issue worth up to ₹ 550 crore and an offer for sale of up to 20,685,800 equity shares by promoters and selling shareholders.
The funds raised will be used for sales and marketing, investing in Blackbuck Finserve Private Limited to expand its capital base, product development expenses, and general corporate purposes.
The offer follows a book-building process. At least 75 percent of the net offer will be allocated to qualified institutional buyers, no more than 15 per cent to non-institutional investors, and up to 10 per cent to retail individual investors. Investors can bid for a minimum of 54 shares and in multiples of 54 shares thereafter. Eligible employees bidding in the reserved portion will receive a discount of ₹25 per share.
Zinka Logistics currently has 63,345 truck operators using its platform across India, supported by a network of 9,374 touchpoints. In FY24, the company reported a gross transaction value (GTV) of ₹5,356.20 crore for the quarter that ended on 30 June. It partners with FASTag banks and various oil marketing companies (OMCs) to provide efficient tolling and fuelling solutions, generating revenue through commissions based on transaction values.